Software giant Sage has announced a review of its company structure, which could lead to 30 management jobs being axed.
However, the company said the job losses, to be made at its offices in Newcastle and in Winnersh, Kent, are a result of growth within the company rather than as a reflection of the state of the economy.
The company has informed the relevant managers at risk of the possible redundancies and a review is set to be carried out into next month before any final decisions are made.
An official Sage statement confirmed the move. It said: ‘Sage has experienced rapid growth in recent years, both organically and via acquisitions. In view of this, Sage recognises that it needs to re-evaluate the skills it requires to manage a bigger and more complex organisation.
‘These changes will improve the efficiency and effectiveness of the company, particularly in terms of how we continue to manage our continued growth and increasing complexity of our company.’
Sage added: ‘Sadly up to 30 management positions may be affected in Newcastle. The main areas are marketing, IS, R&D, customer care and some central functions.’ It is hoped a large number of staff set to lose their jobs will be able to be repositioned within the firm.
However the company, which employs a total of 3,500 people, remains optimistic for the future, despite its share price falling to a low of less than #1.50, as technology stocks across the globe continue to suffer. Last year the price reached a high of #9.50.
However, the company is bullish and analysts suggest it will report increased profits in its year-end figures, to be released within the next few weeks.
The move follows the recent #14m announcement by the firm of the acquisition of the US-based Micro Information Products, accountancy software producer.
Barclays has partnered with accounting software company Xero to provide businesses with access to transaction data through its direct feed.
Government's estimate of a £400m admin saving from Making Tax Digital is way off - and is instead a huge cost burden, warns Lamont Pridmore chief executive Graham Lamont
Xero unveiled its expanded global partner programme at Xerocon South, the accounting technology conference in Australasia
Accountancy software firm Sage has been hit by a data breach which may have compromised the personal details and bank account details of as many as 300 UK businesses